Review on Balancer by Gabriel Medina
DeFi Balancer Protocol
Balancer (BAL) is one of Ethereum's most powerful DeFi tools that focuses on automatic market creation. For this, the so-called liquidity pools are used and thus offer the ability to exchange currencies in decentralized ways. This project began at the end of 2019 with a fund of three million dollars for its development. From now on it is one of the ten most important and recognized projects in the world of decentralized finance. Its function and ease of use makes it perfect for fast exchange between Ethereum tokens. Balancer is based on Uniswap features. In addition, it facilitates liquidity in an automated market since it allows users to earn fees for their assets that are inactive based on Ethereum.
In short, Balancer is a great DeFi protocol that makes life on the Ethereum blockchain. Its mission is to create a decentralized mechanism for the exchange of ERC20 tokens and promote an automated market creation system.
Pros
- We can create and participate in a liquidity pool and earn a profit from investing. Invest and earn BAL tokens that we can exchange for other tokens and reinvest them on the platform. Use BAL tokens to give more power to the protocol.
Cons
- He was the victim of two attacks where more than five hundred thousand dollars were lost.
